Eagle Materials Inc. (NYSE:EXP) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Eagle Materials Inc. (NYSE:EXP) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,242 shares of the construction company’s stock after selling 1,808 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Eagle Materials worth $9,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its position in Eagle Materials by 78.1% during the 3rd quarter. Barclays PLC now owns 37,948 shares of the construction company’s stock worth $10,915,000 after buying an additional 16,645 shares during the last quarter. Baupost Group LLC MA raised its holdings in Eagle Materials by 46.2% during the third quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company’s stock worth $143,904,000 after purchasing an additional 158,171 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Eagle Materials during the fourth quarter worth about $8,890,000. Empowered Funds LLC boosted its holdings in Eagle Materials by 242.4% in the 4th quarter. Empowered Funds LLC now owns 7,789 shares of the construction company’s stock valued at $1,922,000 after purchasing an additional 5,514 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Eagle Materials by 60.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company’s stock valued at $499,111,000 after purchasing an additional 652,836 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eagle Materials news, Director Michael R. Nicolais purchased 310 shares of Eagle Materials stock in a transaction on Monday, February 10th. The shares were bought at an average price of $257.36 per share, with a total value of $79,781.60. Following the purchase, the director now directly owns 3,655 shares in the company, valued at $940,650.80. This trade represents a 9.27 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXP. Citigroup downgraded Eagle Materials from a “buy” rating to a “neutral” rating and cut their target price for the stock from $334.00 to $280.00 in a research note on Monday, January 6th. DA Davidson reduced their target price on Eagle Materials from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Stifel Nicolaus initiated coverage on shares of Eagle Materials in a research note on Tuesday, March 4th. They set a “hold” rating and a $242.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Eagle Materials from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Finally, Stephens restated an “overweight” rating and set a $310.00 target price on shares of Eagle Materials in a research report on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Eagle Materials has an average rating of “Hold” and an average target price of $286.40.

Eagle Materials Stock Performance

Eagle Materials stock opened at $228.90 on Thursday. Eagle Materials Inc. has a fifty-two week low of $205.44 and a fifty-two week high of $321.93. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 16.35 and a beta of 1.37. The stock has a fifty day moving average of $237.73 and a two-hundred day moving average of $265.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 2.76.

Eagle Materials (NYSE:EXP) last posted its quarterly earnings data on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing analysts’ consensus estimates of $3.97 by ($0.38). Eagle Materials had a return on equity of 34.14% and a net margin of 20.91%. On average, analysts anticipate that Eagle Materials Inc. will post 14.39 EPS for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 17th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Eagle Materials’s dividend payout ratio (DPR) is currently 7.14%.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.